Other analysts have also recently issued research reports about the company. RBC Capital Markets set a $73.00 target price on Caterpillar and gave the stock a hold rating in a research report on Wednesday, July 27th. Jefferies Group reaffirmed a hold rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Vetr cut Caterpillar from a buy rating to a hold rating and set a $80.92 price objective for the company. in a research report on Wednesday, June 8th. Zacks Investment Research raised Caterpillar from a sell rating to a hold rating in a research report on Tuesday, July 12th. Finally, TheStreet raised Caterpillar from a hold rating to a buy rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. Caterpillar presently has an average rating of Hold and an average target price of $73.19.
Shares of Caterpillar (NYSE:CAT) opened at 89.42 on Monday. The company has a 50 day moving average price of $83.49 and a 200-day moving average price of $78.43. The stock has a market capitalization of $52.24 billion, a P/E ratio of 59.61 and a beta of 1.54. Caterpillar has a 1-year low of $56.36 and a 1-year high of $89.87.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. On average, equities research analysts forecast that Caterpillar will post $3.50 EPS for the current fiscal year.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction dated Friday, July 29th. The shares were acquired at an average cost of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. First American Trust FSB boosted its position in Caterpillar by 24.6% in the third quarter. First American Trust FSB now owns 43,658 shares of the company’s stock valued at $3,876,000 after buying an additional 8,608 shares during the period. BNP Paribas Arbitrage SA boosted its position in Caterpillar by 221.5% in the third quarter. BNP Paribas Arbitrage SA now owns 667,228 shares of the company’s stock valued at $59,230,000 after buying an additional 459,711 shares during the period. West Oak Capital LLC boosted its position in Caterpillar by 1.4% in the third quarter. West Oak Capital LLC now owns 8,855 shares of the company’s stock valued at $786,000 after buying an additional 125 shares during the period. Washington Trust Bank boosted its position in Caterpillar by 2.2% in the third quarter. Washington Trust Bank now owns 4,089 shares of the company’s stock valued at $363,000 after buying an additional 89 shares during the period. Finally, LVM Capital Management Ltd. MI bought a new position in Caterpillar during the third quarter valued at $266,000. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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